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Dec 7, 2012
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easy to use. it's the ultimate combination of speed, small size, and low-cost printing. >>> better than expected numbers on the labor front for november out this morning. u.s. businesses added 146,000 jobs last month and the unemployment rate slipped to 7.7%, the lowest level in four years. of course, that's not the whole story because you had more people dropping out of the labor force. >> well, the former chairman of the council of economic advisers, now a senior fellow at the hoover institution. he joins us with his reaction. would you give it a, what, out of ten? >> i gave you part of the answer too, by the way. you're welcome. >> out of ten, what score would you give this report, ed? >> i would give this a three. this report is a perfect microcosm of the recovery. the job creation number was about 146,000, you know, over the past three years we've been averaging about 150,000 a month. the problem with that is that we need 117,000 a month just to keep pace with the growing population. so that
easy to use. it's the ultimate combination of speed, small size, and low-cost printing. >>> better than expected numbers on the labor front for november out this morning. u.s. businesses added 146,000 jobs last month and the unemployment rate slipped to 7.7%, the lowest level in four years. of course, that's not the whole story because you had more people dropping out of the labor force. >> well, the former chairman of the council of economic advisers, now a senior fellow at the...
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Dec 5, 2012
12/12
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thanks for joining us. let me me get your reaction. >> well, he's spinning a situation that's so serious. we've got to confront honestly and directly. he said on the sundays shows that they were fixing our debt problem, putting us on a sustainable course. that's not correct. the plan that he has announced leaked out, as he has outlined it. it increases taxes $1.6 trillion and does not cut spending any. it increases spending $1 trillion. it has almost no impact on the $9 trillion in debt we're projected to incur over the next ten years. so this is why we've got a problem. the president proposes nothing to deal with the entitlements that are growing at three times the rate of inflation and indeed represent more than half of the spending in our government. so i just got to tell you, they've got a lot of pride here, a lot of human being roe brus, me. this president needs to be helping us come up with a plan that puts america on a long-term, sound basis. paul ryan did that in the house. that plan is sustainable.
thanks for joining us. let me me get your reaction. >> well, he's spinning a situation that's so serious. we've got to confront honestly and directly. he said on the sundays shows that they were fixing our debt problem, putting us on a sustainable course. that's not correct. the plan that he has announced leaked out, as he has outlined it. it increases taxes $1.6 trillion and does not cut spending any. it increases spending $1 trillion. it has almost no impact on the $9 trillion in debt...
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Dec 3, 2012
12/12
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easy to use. it's the ultimate combination of speed, small size, and low-cost printing. >>> welcome back. today's construction spending report showing a jump of 1.4% in the month of october. nearly triple the 0.5% expected by analyst. the fiscal cliff looms large. it threatens a lot of this recovery on the recovery. joining me is allen smith, ceo of prudential real estate investors. nice to have you on the program. >> thank you very much. >> what's your take on this whole fiscal cliff discussion. if we go over the cliff, does that undo some good news we're seeing in housing and construction? >> i think with respect to the single family housing market, the impact will be somewhat limited. in the sense that the single family home market has fallen so far. when you look at some of the key indicators today, housing aff d affordability is the best it's been. consumer balance sheets have deld deleveraged. excess supply has been dealt with. with every new job there's greater propensity to form households
easy to use. it's the ultimate combination of speed, small size, and low-cost printing. >>> welcome back. today's construction spending report showing a jump of 1.4% in the month of october. nearly triple the 0.5% expected by analyst. the fiscal cliff looms large. it threatens a lot of this recovery on the recovery. joining me is allen smith, ceo of prudential real estate investors. nice to have you on the program. >> thank you very much. >> what's your take on this whole...
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Dec 4, 2012
12/12
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easy to use. it's the ultimate combination of speed, small size, and low-cost printing. >>> welcome back. finally tonight my observation on the consequences of bad fiscal policy. the latest evidence the incredible instances of companies borrowing money to give that money away. this is the kind of crazy behavior you getd when you have manipulation in the market. interest rates should be much higher than they are right now. however, they are artificially stuck at rock bottom levels. and there seems to be no end in sight for how long this will last so investors are hunting high and low for yield as we know that is why they are pay looking for dividend payers. why not get regular income from your investments as you search for some return in this low-rate environment. this is a deepening vicious cycle. the white house and congress have not given us a fiscal policy as the economy bumps along the bottom now for four years and counting. so the federal reserve saves the day. we finally get some fiscal poli
easy to use. it's the ultimate combination of speed, small size, and low-cost printing. >>> welcome back. finally tonight my observation on the consequences of bad fiscal policy. the latest evidence the incredible instances of companies borrowing money to give that money away. this is the kind of crazy behavior you getd when you have manipulation in the market. interest rates should be much higher than they are right now. however, they are artificially stuck at rock bottom levels. and...
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Dec 31, 2012
12/12
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getting this behind us is key. and i do think that equities would be able to have a solid year in 2013 once we get rid of some of this mess that we're in. >> what about ed's point to the fundamentals and the slowdown in earnings? >> well, we still are expecting earnings to rise next year. and again, i'm of the camp that so many investors are rarely pessimistic. many have been positioned negatively -- >> john -- john, i'm sorry to cut you off there but we've just got breaking news out of washington. let's get back to john harwood. >> i talked to an aide that said house gop caucus meeting is not principally about the fiscal cliff. it's mostly going to be about sandy relief money from the superstorm. the cliff will come up, but the source said we are not going over any potential deal because there isn't one and the senate hasn't acted yet. >> but even if they're intending to talk more about sandy relief, don't you think the fiscal cliff issue is going to kind of come up? >> of course it's going to come up, but my only
getting this behind us is key. and i do think that equities would be able to have a solid year in 2013 once we get rid of some of this mess that we're in. >> what about ed's point to the fundamentals and the slowdown in earnings? >> well, we still are expecting earnings to rise next year. and again, i'm of the camp that so many investors are rarely pessimistic. many have been positioned negatively -- >> john -- john, i'm sorry to cut you off there but we've just got breaking...
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Dec 12, 2012
12/12
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he joins us now to make his case. >> welcome, sir. >> thank you very much for joining us. tell us in your own words what you're most fearing here >> you know what? we've got this r & d tax credit that has not been renewed, hitting our bottom line by 2%, 2.5%. think about it. these are high-paying jobs that we hire. it was just announced that china surpassed the u.s. in patent applications just last year. the r & d tax credit goes to hiring and expanding our r & d research. that and obama care, obama care just hit us by 19.5%. our medical costs are going up next year by 19.5%. so what can we do? we'll have to adjust our costs and get them in line. we compete in the worldwide economy, and our costs are going up. >> how much did that loss of the r & d tax credit cost your company as well? >> it cost us about 2.5%, 2% on the bottom line. >> and if the r & d tax credit does not come back, how many people might you have to let go next year? >> so what we have is we've got the 2%, 2.5% that we lost in the bottom line and obama care hitting us by 19.5%. our costs are going to go u
he joins us now to make his case. >> welcome, sir. >> thank you very much for joining us. tell us in your own words what you're most fearing here >> you know what? we've got this r & d tax credit that has not been renewed, hitting our bottom line by 2%, 2.5%. think about it. these are high-paying jobs that we hire. it was just announced that china surpassed the u.s. in patent applications just last year. the r & d tax credit goes to hiring and expanding our r & d...
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Dec 26, 2012
12/12
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when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we're grateful to be a part of it. . >>> we have breaking news in washington. no, not that news but important and sort of in the same ballpark. john harwood has the story. john? >> reporter: related news, bill. part of the administration's earth to put pressure on the cook to do something about the fiscal cliff and the debt ceiling. treasury secretary geithner sent a letter to harry reid, the senate majority leader, saying the united states government will hit its statutory debt limit on december 31st. that is the same day that we would go over the fiscal cliff. now the treasury has certain steps they can take to avoid breaching the debt ceiling that will carry the government through february or march, but at the moment in a technical sense treasury secretary geithner is telling the congress we're hitting the debt ceiling at the end of this year which is the part of the, as i mentioned, part of
when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we're grateful to be a part of it. . >>> we have breaking news in washington. no, not that news but important and sort of in the same ballpark. john harwood has the story. john? >> reporter: related news, bill. part of the administration's earth to put pressure on the cook to do something about the fiscal cliff and the debt ceiling. treasury...
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Dec 14, 2012
12/12
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give us your expectation? >> well, if the economy does go off the fiscal cliff, and right now the politicians are not creating any confidence that they are going to deal with it in the right way we'll see a sharp contraction of suh gdp growth in the first quarter, 2% to 2.5% and the reaction depends on what happens in washington. a lot of things are in place right now that will force them to reach a long-term deal in 2013 and relatively early in the deal -- year, i should say, even if they can't do something to prevent us from coming off the cliff in 2012. >> what will that deal look like? mean, obviously we are looking at probably higher taxes. we've got new taxes with the obama care legislation, the health care legislation so that's going to mean a bit of a pressure for folks. what about the employment situation as a result of cutbacks that we'll see because if we do get a deal we're going to see spending cuts. >> well, if you are going to reduce our budget deficit, you have to raise more revenues and you ha
give us your expectation? >> well, if the economy does go off the fiscal cliff, and right now the politicians are not creating any confidence that they are going to deal with it in the right way we'll see a sharp contraction of suh gdp growth in the first quarter, 2% to 2.5% and the reaction depends on what happens in washington. a lot of things are in place right now that will force them to reach a long-term deal in 2013 and relatively early in the deal -- year, i should say, even if...
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Dec 10, 2012
12/12
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work with us here. the fact remains still that the vast majority of insider trading cases don't go prosecuted. they're not detected. yes, technology detection has increased. >> you know about them more than the s.e.c. does? is everybody telling you about it? >> the number i always heard was that less than 5% of insider cases are actually discovered and prosecuted. is that not a fact? >> i have no idea. and i don't think anybody has an idea that it's a fact. i think that people like to talk about it because it's exciting. it's like sex, drugs, and rock and roll. insider trading fits in as the fourth headline. >> we've got to leave it there. we'd love to talk more about it. especially sex, drugs, and alcohol. >> by the way i should point out i know i'm nitpicking but martha stewart didn't go for insider trading. she was convicted for lying to law enforcement officials. she was not convicted on the charge of insider trading. >> good to clarify these things. absolutely. >>> on we go. some software companies
work with us here. the fact remains still that the vast majority of insider trading cases don't go prosecuted. they're not detected. yes, technology detection has increased. >> you know about them more than the s.e.c. does? is everybody telling you about it? >> the number i always heard was that less than 5% of insider cases are actually discovered and prosecuted. is that not a fact? >> i have no idea. and i don't think anybody has an idea that it's a fact. i think that people...